Republicans struggle to defend the economic fallout of the Iran war

Sep 12, 2026

Americans are paying far more for fuel because of the Iran war, and there is no relief in sight — bad news for drivers, truckers, and anyone buying goods.

  • US drivers and truckers have spent an extra $100 billion on fuel since the war started in late February.
  • Diesel is at a record high, which pushes up the price of everything trucks carry.
  • Republicans blame immigration for rising prices, but the jump is tied to oil and to fertilizer shipments stuck at the Strait of Hormuz.
  • Goldman Sachs is telling clients to expect a long war, and traders now see a real chance oil stays above $100 a barrel into 2027.
  • Prices would be even worse without the US and China draining their emergency oil reserves, which cannot last.

Outlook: Trump says gas will fall below $2 a gallon but only after the midterms, and with the fighting set to drag on, high fuel and grocery prices look likely to stay.

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